Fed holds rates near zero amid fresh signs US economic recovery is slowing
The Federal Reserve said during its first meeting of the year on Wednesday that it would leave interest rates near zero.
Small businesses received $35B in PPP loans during third round of lending
The Small Business Administration said Tuesday that it has approved more than 400,000 loans worth about $35 billion through the Paycheck Protection Program.
US durable goods orders show modest 0.2% December gain
The rise in orders for durable goods, items expected to last at least three years, followed much stronger increases of 1.2% November and 1.8% in October, the Commerce Department reported Wednesday.
Biden's $15 minimum wage push could be 'death knell' for small businesses, job growth
President Biden's push to raise the federal minimum wage to $15 an hour as part of a broader coronavirus relief package could be a "death knell" for businesses still reeling from the pandemic, according to a new study published this week.
Can the IRS snatch your stimulus check money if you owe back taxes? What to know
For millions of Americans who did not receive their second coronavirus stimulus check, there's a quick fix: Claim the missing money when you file your 2020 tax return.
Over 8M Americans have fallen into poverty as COVID-19 relief benefits expired
More than 8 million Americans fell into poverty over the past six months as social safety measures put into place at the start of the coronavirus pandemic expired, according to a new study published this week.
Shift to electric vehicles spurs bid to make more batteries in US
The auto industry’s quickening shift to electric cars is spurring investment in another emerging industry in the U.S.: manufacturing lithium-ion batteries for those vehicles.
IMF raises economic outlook for 2021, but warns new COVID-19 variants could derail growth
The global economy is poised for a strong recovery from the coronavirus pandemic in 2021, the International Monetary Fund said Tuesday.
Janet Yellen: The first female U.S. Treasury Secretary
Yellen is the first woman to have led the U.S. central bank.
Senate confirms Janet Yellen as first female Treasury secretary
The Senate confirmed Janet Yellen, the former chairwoman of the Federal Reserve, as Treasury secretary on Friday afternoon, putting into place a battle-tested economist who will help implement the Biden administration's plan to prop up the nation's pandemic-scarred economy.
Can Democrats pass Biden's $1.9T coronavirus relief bill without Republicans?
Senate Democrats may rely on a powerful procedural tool to pass the $1.9 trillion measure using their slimmest-possible majority.
Coronavirus relief spending fueling a stock market bubble, BofA warns
The stock market is in a bubble that's being fueled by U.S. policy on coronavirus stimulus, Bank of America economists warned in a note to clients.
AMC nets $917M in financing to ward off bankruptcy
The company also said it presumed it would continue to make progress in negotiations with theater landlords over lease payments.
Bipartisan group of senators skeptical about Biden's $1.9T coronavirus relief proposal
A bipartisan group of senators balked at the size of President Biden's $1.9 trillion coronavirus relief proposal during a call with White House officials on Sunday, raising concerns that the measure provides too much money to high-income Americans.
Yellen passed the economic stability baton to Powell. Now, he’s handing it back.
The Fed spent 2020 combating the economic fallout of the coronavirus pandemic with interest-rate cuts, bond purchases and emergency lending programs.
Biden’s ‘Buy American’ plan eyed warily by other countries
Domestic-purchase plans put other governments on alert, causing concern that their companies would be excluded from the U.S.'s huge government-procurement market when Washington is making massive investments to fight the fallout of the Covid-19 pandemic.
COVID-19's financial toll mounts as homeowners keep postponing mortgage payments
The proportion of homeowners postponing mortgage payments had been falling steadily from June to November, an indication that people were returning to work and the economy was beginning to recover. But the decrease has largely flattened since November, when the current wave of coronavirus cases surged in communities across the country.
Gina Raimondo: What to know about Biden's commerce secretary pick
President Biden chose Gina Raimondo, the governor of Rhode Island, as his commerce secretary.
Yellen nomination sails through Senate panel; final vote set for Monday
Republicans called for her to work with them in developing economic policies.
Stimulus checks and your 2020 taxes: All of your questions, answered
Here's everything you need to know about your taxes and the stimulus checks.